Pressian Karakostov On The Importance of Paying It Forward Principle
“My understanding is that everyone has a responsibility towards the environment that they exist in. Starting from our own homes and workplaces to our neighborhoods, cities, countries, and ultimately to the planet. For me taking responsibility means proactively searching for ways to improve your environment based on your own perceptions and values. This is the main reason why I am motivated to engage in and support various initiatives which improve the entrepreneurial environment in Bulgaria. One of these initiatives is Bulgaria Innovation Hub,” Pressian Karakostov, Board Member of the Bulgarian Startup Association (BESCO) and Endeavor Bulgaria, and a serial founder in the digital publishing industry, shares.
Being a long-time supporter of Bulgaria Innovation Hub in his role as a donor, Pressian is now taking his engagement with the initiative to the next level by becoming a mentor. He will bring 20+ years of experience as a founder of Bulgarian businesses with a main market in the US and would guide the portfolio founders of BIH in the process of international scaling.
Between Digital Advertising, Mentoring, and Ecosystem Building
Born and raised in Varna, Pressian began his career as a founder back in 2001, launching his first startup - the mobile phone website Phone Arena. His startup soon grew to become one of the top 3 mobile phone websites worldwide, and this was only the beginning of his successes in the online advertising space. His next entrepreneurial endeavor, PubGalaxy, was launched in 2013 to take care of the monetization needs of publishers. In less than five years, the company built an international customer base, achieved yearly revenue growth of 802%, and was recognized as one of the fastest-growing technology companies in Central Europe for 2018, according to the prestigious Technology Fast 50 Deloitte ranking.
Pressian finished his CEO career path in PubGalaxy around 2 years ago when he gave way to his co-founder, Ivaylo Ivanov. Then, in October 2021, the monetization platform for publishers was acquired by the Dutch media and entertainment tech company, Azerion.
Now, having moved from Varna to Sofia, Pressian is mainly engaged with participating in various initiatives and startup community organizations such as BIH, Endeavor, and BESCO where he works to modernize the legal framework for SMEs. In addition, he is also part of the Entrepreneur in Residence mentor program of Eleven Venture.
90% paying it forward and 10% giving back
Pressian explains that there is a difference between the principles of giving back and paying it forward. One doesn’t have to have an exit in order to pay it forward to their community. Everyone can practice their responsibility little by little over time - be it with time, mentorship, connections, or financial support.
“If I have to quantify it, the ideal equation would be 90% paying it forward and 10% giving back. I believe we don’t talk enough about the responsibility we all have toward our communities and environments. This feeling of responsibility should be more consciously instilled in people, especially in the younger generation. I am more than happy to see that ambassadors of the paying it forward mindset such as Vassil Terziev, are becoming role models to young people in Bulgaria,” Pressian concludes.